Abstract
The financial reporting plays a significant role in sustainable development, as it contributes greatly to providing the information required to assess sustainable development performance. In order to achieve the sustainable development, accurate information should be provided to stakeholders on the energy consumed and the impact of energy consumption on the environment. Information on sustainable energy performance needs providing both of financial and non-financial information. However, the traditional financial reporting system is unable to provide information that helps measure and promote sustainable energy performance, as the current accounting system provides financial information only. It is therefore important to adopt an appropriate reporting framework to support the evaluation of sustainable energy performance. This paper proposes an approach to the measure the sustainable energy performance based on the integrated reporting framework. A unique feature of the approach is the selection of corporate energy performance indicators that cover both financial and non-financial information. This paper therefore sets out indicators for assessing sustainable energy performance based on the Integrated Reporting Framework. Furthermore, the application of the indicators proposed in this paper helps regulators and economic policy makers to develop sustainable development strategies at national level. Moreover, the adoption of the proposed indicators can provide accurate information on the real and future of sustainable energy in the country.
Highlights
In recent decades, rapid global economic growth has become a major burden on the majority of countries in the world concerned about environmental issues and the protection of natural resources
Summary and Conclusions The implementation of the Integrated Reporting Framework represents a fundamental change in the corporate philosophy of financial reporting
The aim of this paper is to develop indicators for measuring sustainable energy performance using the integrated reporting framework
Summary
Rapid global economic growth has become a major burden on the majority of countries in the world concerned about environmental issues and the protection of natural resources. Improving the level of sustainable energy performance helps to reduce emissions of greenhouse gases that are harmful to the environment and is a key element in achieving the objectives of sustainable development at the micro and macro levels (economic units and countries). There is a rise in societal concerns about the damage these businesses pose to the general population, as well as how the social and environmental factors would threaten the survival of these businesses in the long term. It is the responsibility of companies to provide stakeholders with the information necessary to ensure the continuity of economic activity while preserving natural resources and contributing to sustainable development. In order to achieve this objective, companies use a variety of tools to express the efficiency of natural resource management and, in particular, energy consumption
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